secwatch.observer — SEC 8-K summary
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Issuer:     IAC Inc. (IAC)
CIK:        0001800227
Form:       8-K
Filed at:   2024-02-29T23:59:59+00:00
Accession:  0001800227-24-000010
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dotdash Meredith reports 2023 revenue down 12% YoY to $1.69B, net loss improves to $207M
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- Revenue $1.6949B in 2023 vs $1.9347B in 2022, driven by print declines; Digital revenue not separately disclosed.
- Net loss of $207.4M in 2023 vs $367.5M in 2022; operating loss narrowed to $150.7M from $188.1M.
- Goodwill unchanged at $1.5B; intangible assets net $615.5M (down from $895.2M due to amortization).
- Long-term debt $1.497B at Dec 2023; received $510M contributions from IAC and made $405M distributions during year.
- Interest expense $137.5M vs $90.1M in 2022 due to higher rates on Term Loan B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800227/000180022724000010/0001800227-24-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800227/000180022724000010/iaci-20240229.htm
  HTML page:      https://secwatch.observer/filing/0001800227-24-000010

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer